The Galleries Washington Centre, Washington, Tyne & Wear, NE38 7NF, UK

Asda Washington

Description

Long-let supermarket investment with c. 50 years term certain.

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Asking price

MYR 111,381,000

Building area net

11,019 m²

Occupancy

100%

Year built

1974

Cap rate

5.5%

NOI

MYR 6,543,000

Prominently situated in Washington fronting both Sunderland Highway (A1231) and Washington Highway (A182)
Newly refurbished supermarket unit of 118,611 sq ft, with approximately 458 car parking spaces (1:259 sq ft)
Large catchment population of 1,198,323 people (2021) with a comparison goods spend potential of £74.4 million
Single-let in its entirety to McLagan Investments Ltd, with a Guarantee from Asda Stores Limited
Exceptionally long unexpired term of 49 years to expiry with no breaks
Passing rent of £1,243,550 per annum equating to an affordable average rent of £10.46 per sq ft secured against a low risk covenant
Freehold